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Regions / Global

Newsletter September 09: FASB wants daylight on valuing illiquid assets

Simon Turmaine | September 7, 2009

NORWALK, Connecticut – US accounting standard-setters, criticised earlier this year for bowing to political pressure to give banks more discretion in valuing some of their toxic assets, are proposing that firms disclose more clearly how they value illiquid assets. The aim is to make it easier for investors and other users of financial statements to understand the true state of the financial affairs of a firm.

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